L&T gains after order win

L&T rose 0.36% to Rs 1,684 at 14:27 IST on BSE after the company said that its construction arm bagged orders worth Rs 2694 crore across various business segments.

Meanwhile, the S&P BSE Sensex was down 42.75 points, or 0.15% to 29,418.70.

On the BSE, 43,000 shares were traded in the counter so far, compared with average daily volumes of 1.50 lakh shares in the past one quarter. The stock had hit a high of Rs 1,688.50 and a low of Rs 1,671.35 so far during the day. The stock hit a 52-week high of Rs 1,719.45 on 7 April 2017. The stock hit a 52-week low of Rs 1,210 on 18 April 2016.

The stock had outperformed the market over the past one month till 13 April 2017, rising 8.45% compared with 0.22% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.66% as against Sensex's 8.16% rise.

The large-cap company has equity capital of Rs 186.65 crore. Face value per share is Rs 2.

The construction arm of L&T has won orders worth Rs 2694 crore across various business segments, L&T said.

While its water and effluent treatment vertical has secured Rs 2227-crore orders, the smart world communications business bagged a contract of Rs 180 crore from Greater Visakhapatnam Smart City Corporation.

The company's transportation infrastructure business has received an order worth Rs 287 crore for a road project in Maharashtra.

L&T's consolidated net profit rose 38.9% to Rs 972.47 crore on 1.7% growth in net sales to Rs 26018.15 crore in Q3 December 2016 over Q3 December 2015.

L&T Construction is a brand of L&T. L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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